PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) Hits New 12-Month Low – Here’s Why

PIMCO Short Term Municipal Bond Exchange-Traded Fund (NYSEARCA:SMMU) reached a new 52-week low on Monday. The company traded as low as $49.32 and last traded at $49.30, with a volume of 36980 shares changing hands. The stock had previously closed at $49.39.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Price Performance

The company has a 50 day moving average of $50.12 and a 200 day moving average of $50.33.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. XP Advisory US Inc. acquired a new position in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the second quarter worth approximately $605,000. Bessemer Group Inc. bought a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund during the first quarter valued at approximately $1,448,000. Bank of New York Mellon Corp acquired a new stake in shares of PIMCO Short Term Municipal Bond Exchange-Traded Fund in the first quarter valued at approximately $2,924,000. Worth Asset Management LLC bought a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 1st quarter worth approximately $242,000. Finally, John A. Wolfe & Associates Inc. bought a new position in PIMCO Short Term Municipal Bond Exchange-Traded Fund in the 4th quarter worth approximately $24,554,000.

PIMCO Short Term Municipal Bond Exchange-Traded Fund Company Profile

PIMCO Short Term Municipal Bond ETF, formerly PIMCO Short Term Municipal Bond Strategy Fund, is an exchange-traded fund. It is designed to be appropriate for investors seeking tax-exempt income. The Fund consists of a portfolio of primarily short duration, bonds which carry interest income that is exempt from federal tax and in some cases state tax. The Fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its assets in a diversified portfolio of debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal income tax (Municipal Bonds).